KGHM once again ranked as world leader in silver production

In the prestigious ranking World Silver Survey 2025 KGHM Polska Miedź S.A. was once again ranked first in the classification of the ‘largest silver mines in the world’. In addition, the KGHM Group once again ranked second in the global ranking of the ‘largest silver producers’ with 1,341 tonnes of this valuable metal produced in 2024.

‘For years we have held a leading position among global silver producers; products marked with the KGHM brand, due to their high quality, are appreciated by customers all over the world. Thanks to the modern production process, the carbon footprint of the silver we produce is several times lower than the global average,’ said Andrzej Szydło, President of the Management Board of KGHM Polska Miedź S.A.

Silver production at KGHM

KGHM Polska Miedź S.A. is one of the largest producers of metallic silver in the world. In 2024, the production of this precious metal by the KGHM Polska Miedź S.A. Group reached 1,341 tonnes, of which 1,316 tonnes were produced in Poland. Silver is supplied in the form of grains to the jewellery and metals industries, which produce alloys containing silver. Silver in the form of bars (ingots) is mainly purchased by financial institutions. This metal in the form of bars is registered under the brand KGHM HG and has a registered certificate on COMEX (New York Mercantile Exchange) as well as Good Delivery certificates issued by the London Bullion Market Association.

KGHM’s silver production takes place at the Głogów Smelter and Refinery, where the Precious Metals Plant has been operating since 1993. Its task is to recover the precious metals – silver and gold – present in the copper ore. These are found in the so-called ‘black mud’, i.e. the anode slime produced during the electrorefining of copper.  After the production process, metallic silver in the form of grains and ingots (bars) has a silver content of 99.99%.

The significance of silver

Approximately 72% of the global metallic silver production is a by-product of mining ores of other metals. Due to its unique physical properties, silver is used in jewellery, electronics, electrical engineering, medicine, optics, energy production and many other sectors. It also has applications in cutting-edge technologies, including in infrastructure, the automotive industry and photovoltaics. In total, industry utilises approximately 58% of global silver production. It is also a valued investment precious metal. World mining production of silver in 2024 is estimated at approximately 26,000 tonnes.

International ranking of silver producers

The World Silver Survey report is one of the most important reports that publishes an annual compilation of the world’s largest silver producers. It is prepared by a team of experts and analysts from global metals markets.